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Glama

Hemrock MCP

by io.github.tdavidson
OverviewDiscussionsAdmin

Compute fund economics

fund_economics_compute
Read-only

Use whenever the user asks how a venture fund's terms play out: fund size, management fees and step-downs, carry, investment period, recycling, reserves, deployment pace, and resulting net returns to LPs. Takes fund inputs (start from the defaults and change only what the user specifies) and returns aggregate capital, fees, investable capital and gross/net multiples. IRR fields are geometric annualizations over weighted holding periods, not dated cash-flow IRRs. Account required: lifetime free credits or paid access. Fund Economics, a separate $20/year product with 6,000 calculations. If the result contains action_required (not signed in, no purchase, allowance used), relay it to the user with its links and offer to retry. Never skip the calculation silently.

Input Schema

TableJSON Schema
NameRequiredDescriptionDefault
inputsYes
idempotency_keyNoOptional retry key; reuse only with identical input.

Schema Changelog

Changes observed during successful MCP inspections.

  1. Changed7 schema fields changed
    • addedInput schema / definitions / ProductAccess / properties / active / description
      Added value: +"Active paid term; use state/freeRemaining for trial access."
    • addedInput schema / definitions / ProductAccess / properties / freeRemaining
      Added value: +{
+  "minimum": 0,
+  "type": "integer"
+}
    • addedInput schema / definitions / ProductAccess / properties / nextAction
      Added value: +{
+  "type": "string"
+}
    • addedInput schema / definitions / ProductAccess / properties / paidExpiration
      Added value: +{
+  "type": [
+    "string",
+    "null"
+  ]
+}
    • addedInput schema / definitions / ProductAccess / properties / paidRemaining
      Added value: +{
+  "minimum": 0,
+  "type": "integer"
+}
    • addedInput schema / definitions / ProductAccess / properties / source
      Added value: +{
+  "enum": [
+    "free",
+    "paid"
+  ],
+  "type": "string"
+}
    • addedInput schema / definitions / ProductAccess / properties / state
      Added value: +{
+  "enum": [
+    "free_available",
+    "free_exhausted",
+    "paid_active",
+    "paid_expired",
+    "paid_quota_exhausted"
+  ],
+  "type": "string"
+}
  2. Changed49 schema fields changed
    • addedInput schema / $schema
      Added value: +"http://json-schema.org/draft-07/schema#"
    • addedInput schema / additionalProperties
      Added value: +false
    • addedInput schema / definitions / AccessResponse
      Added value: +{
+  "properties": {
+    "data": {
+      "properties": {
+        "daily": {
+          "items": {
+            "$ref": "#/definitions/DailyUsage"
+          },
+          "type": "array"
+        },
+        "monthly": {
+          "items": {
+            "$ref": "#/definitions/MonthlyUsage"
+          },
+          "type": "array"
+        },
+        "periods": {
+          "items": {
+            "allOf": [
+              {
+                "$ref": "#/definitions/UsagePeriod"
+              },
+              {
+                "properties": {
+                  "product": {
+                    "enum": [
+                      "cap-table",
+                      "fund-economics"
+                    ],
+                    "type": "string"
+                  }
+                },
+                "required": [
+                  "product"
+                ],
+                "type": "object"
+              }
+            ]
+          },
+          "type": "array"
+        },
+        "products": {
+          "items": {
+            "$ref": "#/definitions/ProductAccess"
+          },
+          "type": "array"
+        }
+      },
+      "required": [
+        "products",
+        "daily"
+      ],
+      "type": "object"
+    }
+  },
+  "type": "object"
+}
    • removedInput schema / definitions / ApiKey
      Removed value: -{
-  "properties": {
-    "created_at": {
-      "type": "string"
-    },
-    "id": {
-      "type": "string"
-    },
-    "key_prefix": {
-      "description": "First chars of the token, for display.",
-      "type": "string"
-    },
-    "last_used_at": {
-      "type": [
-        "string",
-        "null"
-      ]
-    },
-    "name": {
-      "type": "string"
-    },
-    "revoked_at": {
-      "type": [
-        "string",
-        "null"
-      ]
-    }
-  },
-  "type": "object"
-}
    • removedInput schema / definitions / CapTableEvent
      Removed value: -{
-  "description": "One cap-table event, discriminated by `type`. Pass events in chronological order.",
-  "discriminator": {
-    "mapping": {
-      "common_issuance": "#/components/schemas/CommonIssuanceEvent",
-      "convertible_round": "#/components/schemas/ConvertibleRoundEvent",
-      "manual_issuance": "#/components/schemas/ManualIssuanceEvent",
-      "option_grant": "#/components/schemas/OptionGrantEvent",
-      "option_pool": "#/components/schemas/OptionPoolEvent",
-      "priced_round": "#/components/schemas/PricedRoundEvent",
-      "secondary_sale": "#/components/schemas/SecondarySaleEvent",
-      "warrant_round": "#/components/schemas/WarrantRoundEvent"
-    },
-    "propertyName": "type"
-  },
-  "oneOf": [
-    {
-      "$ref": "#/definitions/CommonIssuanceEvent"
-    },
-    {
-      "$ref": "#/definitions/OptionPoolEvent"
-    },
-    {
-      "$ref": "#/definitions/SecondarySaleEvent"
-    },
-    {
-      "$ref": "#/definitions/OptionGrantEvent"
-    },
-    {
-      "$ref": "#/definitions/ManualIssuanceEvent"
-    },
-    {
-      "$ref": "#/definitions/ConvertibleRoundEvent"
-    },
-    {
-      "$ref": "#/definitions/WarrantRoundEvent"
-    },
-    {
-      "$ref": "#/definitions/PricedRoundEvent"
-    }
-  ]
-}
    • addedInput schema / definitions / CapTableSnapshot
      Added value: +{
+  "properties": {
+    "holdings": {
+      "items": {
+        "type": "object"
+      },
+      "type": "array"
+    },
+    "label": {
+      "type": "string"
+    },
+    "outstandingConvertibles": {
+      "items": {
+        "type": "object"
+      },
+      "type": "array"
+    },
+    "ownership": {
+      "items": {
+        "type": "object"
+      },
+      "type": "array"
+    },
+    "pricePerShare": {
+      "type": "number"
+    },
+    "roundDetail": {
+      "type": "object"
+    },
+    "totalShares": {
+      "type": "number"
+    }
+  },
+  "required": [
+    "label",
+    "holdings",
+    "totalShares",
+    "ownership",
+    "outstandingConvertibles"
+  ],
+  "type": "object"
+}
    • addedInput schema / definitions / ComputeRequest / additionalProperties
      Added value: +false
    • removedInput schema / definitions / ComputeRequest / properties / events / description
      Removed value: -"Ordered list of cap-table events to fold."
    • removedInput schema / definitions / ComputeRequest / properties / events / items / $ref
      Removed value: -"#/definitions/CapTableEvent"
    • addedInput schema / definitions / ComputeRequest / properties / events / items / description
      Added value: +"One cap-table event, discriminated by `type`. Pass events in chronological order."
    • addedInput schema / definitions / ComputeRequest / properties / events / items / discriminator
      Added value: +{
+  "mapping": {
+    "common_issuance": "#/components/schemas/CommonIssuanceEvent",
+    "convertible_round": "#/components/schemas/ConvertibleRoundEvent",
+    "manual_issuance": "#/components/schemas/ManualIssuanceEvent",
+    "option_grant": "#/components/schemas/OptionGrantEvent",
+    "option_pool": "#/components/schemas/OptionPoolEvent",
+    "priced_round": "#/components/schemas/PricedRoundEvent",
+    "secondary_sale": "#/components/schemas/SecondarySaleEvent",
+    "warrant_round": "#/components/schemas/WarrantRoundEvent"
+  },
+  "propertyName": "type"
+}
    • addedInput schema / definitions / ComputeRequest / properties / events / items / oneOf
      Added value: +[
+  {
+    "$ref": "#/definitions/CommonIssuanceEvent"
+  },
+  {
+    "$ref": "#/definitions/OptionPoolEvent"
+  },
+  {
+    "$ref": "#/definitions/SecondarySaleEvent"
+  },
+  {
+    "$ref": "#/definitions/OptionGrantEvent"
+  },
+  {
+    "$ref": "#/definitions/ManualIssuanceEvent"
+  },
+  {
+    "$ref": "#/definitions/ConvertibleRoundEvent"
+  },
+  {
+    "$ref": "#/definitions/WarrantRoundEvent"
+  },
+  {
+    "$ref": "#/definitions/PricedRoundEvent"
+  }
+]
    • addedInput schema / definitions / ComputeRequest / properties / events / maxItems
      Added value: +200
    • addedInput schema / definitions / ComputeResponse / properties / data / properties / final / $ref
      Added value: +"#/definitions/CapTableSnapshot"
    • removedInput schema / definitions / ComputeResponse / properties / data / properties / final / description
      Removed value: -"The final cap-table state."
    • removedInput schema / definitions / ComputeResponse / properties / data / properties / final / type
      Removed value: -"object"
    • addedInput schema / definitions / ComputeResponse / properties / data / properties / snapshots / items / $ref
      Added value: +"#/definitions/CapTableSnapshot"
    • removedInput schema / definitions / ComputeResponse / properties / data / properties / snapshots / items / type
      Removed value: -"object"
    • removedInput schema / definitions / CreateKeyRequest
      Removed value: -{
-  "properties": {
-    "name": {
-      "description": "Label for the key, written into the audit trail.",
-      "type": "string"
-    }
-  },
-  "type": "object"
-}
    • addedInput schema / definitions / DailyUsage
      Added value: +{
+  "properties": {
+    "day": {
+      "format": "date",
+      "type": "string"
+    },
+    "endpoint": {
+      "type": "string"
+    },
+    "failed": {
+      "type": "integer"
+    },
+    "product": {
+      "enum": [
+        "cap-table",
+        "fund-economics"
+      ],
+      "type": "string"
+    },
+    "source": {
+      "type": "string"
+    },
+    "succeeded": {
+      "type": "integer"
+    }
+  },
+  "required": [
+    "day",
+    "product",
+    "endpoint",
+    "source",
+    "succeeded",
+    "failed"
+  ],
+  "type": "object"
+}
    • changedInput schema / definitions / Error / properties / error / properties / code / enum
      Previous value: -[
-  "unauthorized",
-  "payment_required",
-  "validation_failed",
-  "engine_error",
-  "method_not_allowed",
-  "internal_error"
-]New value: +[
+  "unauthorized",
+  "payment_required",
+  "validation_failed",
+  "engine_error",
+  "quota_exhausted",
+  "rate_limited",
+  "idempotency_conflict",
+  "service_unavailable",
+  "method_not_allowed",
+  "internal_error"
+]
    • addedInput schema / definitions / FundComputeRequest / $schema
      Added value: +"http://json-schema.org/draft-07/schema#"
    • addedInput schema / definitions / FundComputeRequest / additionalProperties
      Added value: +false
    • changedInput schema / definitions / FundComputeRequest / properties / inputs / additionalProperties
      Previous value: -trueNew value: +false
    • removedInput schema / definitions / FundComputeRequest / properties / inputs / description
      Removed value: -"Fund Economics inputs: committed capital, fees, portfolio construction, carry tiers."
    • addedInput schema / definitions / FundComputeRequest / properties / inputs / properties
      Added value: +{
+  "carryPct": {
+    "maximum": 1,
+    "minimum": 0,
+    "type": "number"
+  },
+  "committedCapital": {
+    "exclusiveMinimum": 0,
+    "type": "number"
+  },
+  "fundOperationsYears": {
+    "exclusiveMinimum": 0,
+    "type": "number"
+  },
+  "gpCommitCountedTowardInvested": {
+    "type": "boolean"
+  },
+  "gpCommitPct": {
+    "maximum": 1,
+    "minimum": 0,
+    "type": "number"
+  },
+  "mgmtFeePct": {
+    "maximum": 1,
+    "minimum": 0,
+    "type": "number"
+  },
+  "mgmtFeeSchedule": {
+    "items": {
+      "maximum": 1,
+      "minimum": 0,
+      "type": "number"
+    },
+    "type": "array"
+  },
+  "mgmtFeesPeriodYears": {
+    "exclusiveMinimum": 0,
+    "type": "number"
+  },
+  "newInvestmentPeriodYears": {
+    "exclusiveMinimum": 0,
+    "type": "number"
+  },
+  "operationalExpenseLines": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "amount": {
+          "minimum": 0,
+          "type": "number"
+        },
+        "label": {
+          "type": "string"
+        }
+      },
+      "required": [
+        "label",
+        "amount"
+      ],
+      "type": "object"
+    },
+    "type": "array"
+  },
+  "operationalExpensesAnnual": {
+    "minimum": 0,
+    "type": "number"
+  },
+  "operationalExpensesBreakout": {
+    "additionalProperties": false,
+    "properties": {
+      "audit": {
+        "minimum": 0,
+        "type": "number"
+      },
+      "fundAdmin": {
+        "minimum": 0,
+        "type": "number"
+      },
+      "other": {
+        "minimum": 0,
+        "type": "number"
+      },
+      "tax": {
+        "minimum": 0,
+        "type": "number"
+      }
+    },
+    "required": [
+      "fundAdmin",
+      "tax",
+      "audit",
+      "other"
+    ],
+    "type": "object"
+  },
+  "organizationalExpenseLines": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "amount": {
+          "minimum": 0,
+          "type": "number"
+        },
+        "label": {
+          "type": "string"
+        }
+      },
+      "required": [
+        "label",
+        "amount"
+      ],
+      "type": "object"
+    },
+    "type": "array"
+  },
+  "organizationalExpenses": {
+    "minimum": 0,
+    "type": "number"
+  },
+  "partnershipExpenseLines": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "amount": {
+          "minimum": 0,
+          "type": "number"
+        },
+        "label": {
+          "type": "string"
+        }
+      },
+      "required": [
+        "label",
+        "amount"
+      ],
+      "type": "object"
+    },
+    "type": "array"
+  },
+  "partnershipExpensesAnnual": {
+    "minimum": 0,
+    "type": "number"
+  },
+  "portfolio": {
+    "additionalProperties": false,
+    "properties": {
+      "avgCheckSizeFollow": {
+        "minimum": 0,
+        "type": "number"
+      },
+      "avgCheckSizeNew": {
+        "minimum": 0,
+        "type": "number"
+      },
+      "entryStages": {
+        "items": {
+          "additionalProperties": false,
+          "properties": {
+            "avgCheckSize": {
+              "minimum": 0,
+              "type": "number"
+            },
+            "followOnChecks": {
+              "items": {
+                "additionalProperties": false,
+                "properties": {
+                  "avgCheckSize": {
+                    "minimum": 0,
+                    "type": "number"
+                  },
+                  "label": {
+                    "type": "string"
+                  },
+                  "pctOfReserve": {
+                    "maximum": 1,
+                    "minimum": 0,
+                    "type": "number"
+                  }
+                },
+                "required": [
+                  "avgCheckSize"
+                ],
+                "type": "object"
+              },
+              "type": "array"
+            },
+            "initialCheckLabel": {
+              "type": "string"
+            },
+            "name": {
+              "type": "string"
+            },
+            "numInvestments": {
+              "minimum": 0,
+              "type": "number"
+            },
+            "pctAllocation": {
+              "maximum": 1,
+              "minimum": 0,
+              "type": "number"
+            },
+            "reserveRatio": {
+              "maximum": 1,
+              "minimum": 0,
+              "type": "number"
+            }
+          },
+          "required": [
+            "name",
+            "numInvestments",
+            "avgCheckSize"
+          ],
+          "type": "object"
+        },
+        "type": "array"
+      },
+      "followPct": {
+        "maximum": 1,
+        "minimum": 0,
+        "type": "number"
+      },
+      "newPct": {
+        "maximum": 1,
+        "minimum": 0,
+        "type": "number"
+      }
+    },
+    "required": [
+      "newPct",
+      "followPct",
+      "avgCheckSizeNew",
+      "avgCheckSizeFollow"
+    ],
+    "type": "object"
+  },
+  "recycledCapitalPct": {
+    "maximum": 1,
+    "minimum": 0,
+    "type": "number"
+  },
+  "returnTiers": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "holdingPeriodYears": {
+          "minimum": 0,
+          "type": "number"
+        },
+        "multiple": {
+          "minimum": 0,
+          "type": "number"
+        },
+        "name": {
+          "minLength": 1,
+          "type": "string"
+        },
+        "numCompanies": {
+          "minimum": 0,
+          "type": "number"
+        },
+        "pctOfCapital": {
+          "maximum": 1,
+          "minimum": 0,
+          "type": "number"
+        }
+      },
+      "required": [
+        "name",
+        "pctOfCapital",
+        "multiple",
+        "holdingPeriodYears"
+      ],
+      "type": "object"
+    },
+    "minItems": 1,
+    "type": "array"
+  },
+  "solveCalledFromDeployment": {
+    "type": "boolean"
+  },
+  "stageInputMode": {
+    "enum": [
+      "pct-capital",
+      "num-companies"
+    ],
+    "type": "string"
+  },
+  "targetTotalInvestments": {
+    "minimum": 0,
+    "type": "number"
+  },
+  "tierFractional": {
+    "type": "boolean"
+  },
+  "tierInputMode": {
+    "enum": [
+      "pct-capital",
+      "num-companies"
+    ],
+    "type": "string"
+  }
+}
    • addedInput schema / definitions / FundComputeRequest / properties / inputs / required
      Added value: +[
+  "committedCapital",
+  "gpCommitPct",
+  "gpCommitCountedTowardInvested",
+  "organizationalExpenses",
+  "operationalExpensesAnnual",
+  "mgmtFeePct",
+  "recycledCapitalPct",
+  "carryPct",
+  "newInvestmentPeriodYears",
+  "mgmtFeesPeriodYears",
+  "portfolio",
+  "returnTiers"
+]
    • addedInput schema / definitions / FundResult
      Added value: +{
+  "properties": {
+    "calledCapital": {
+      "$ref": "#/definitions/LineTotals"
+    },
+    "committedCapital": {
+      "$ref": "#/definitions/LineTotals"
+    },
+    "distributions": {
+      "$ref": "#/definitions/LineTotals"
+    },
+    "dpi": {
+      "type": "number"
+    },
+    "grossIRR": {
+      "$ref": "#/definitions/LineTotals"
+    },
+    "grossMultiple": {
+      "$ref": "#/definitions/LineTotals"
+    },
+    "investedCapital": {
+      "$ref": "#/definitions/LineTotals"
+    },
+    "managementFees": {
+      "$ref": "#/definitions/LineTotals"
+    },
+    "netIRR": {
+      "$ref": "#/definitions/LineTotals"
+    },
+    "netMultiple": {
+      "$ref": "#/definitions/LineTotals"
+    },
+    "partnershipExpenses": {
+      "$ref": "#/definitions/LineTotals"
+    },
+    "pic": {
+      "type": "number"
+    },
+    "proceeds": {
+      "$ref": "#/definitions/LineTotals"
+    },
+    "rvpi": {
+      "type": "number"
+    },
+    "tiers": {
+      "items": {
+        "type": "object"
+      },
+      "type": "array"
+    },
+    "tvpi": {
+      "type": "number"
+    },
+    "weightedHoldPeriodYears": {
+      "type": "number"
+    }
+  },
+  "required": [
+    "committedCapital",
+    "calledCapital",
+    "managementFees",
+    "partnershipExpenses",
+    "investedCapital",
+    "proceeds",
+    "distributions",
+    "grossMultiple",
+    "netMultiple",
+    "grossIRR",
+    "netIRR",
+    "pic",
+    "dpi",
+    "rvpi",
+    "tvpi",
+    "weightedHoldPeriodYears"
+  ],
+  "type": "object"
+}
    • addedInput schema / definitions / LineTotals
      Added value: +{
+  "properties": {
+    "gp": {
+      "type": "number"
+    },
+    "lp": {
+      "type": "number"
+    },
+    "total": {
+      "type": "number"
+    }
+  },
+  "required": [
+    "total",
+    "lp",
+    "gp"
+  ],
+  "type": "object"
+}
    • addedInput schema / definitions / MonthlyUsage
      Added value: +{
+  "properties": {
+    "failed": {
+      "type": "integer"
+    },
+    "month": {
+      "pattern": "^[0-9]{4}-[0-9]{2}$",
+      "type": "string"
+    },
+    "product": {
+      "enum": [
+        "cap-table",
+        "fund-economics"
+      ],
+      "type": "string"
+    },
+    "succeeded": {
+      "type": "integer"
+    }
+  },
+  "required": [
+    "month",
+    "product",
+    "succeeded",
+    "failed"
+  ],
+  "type": "object"
+}
    • addedInput schema / definitions / ProductAccess
      Added value: +{
+  "properties": {
+    "active": {
+      "type": "boolean"
+    },
+    "allowance": {
+      "const": 6000,
+      "type": "integer"
+    },
+    "name": {
+      "type": "string"
+    },
+    "period": {
+      "anyOf": [
+        {
+          "type": "null"
+        },
+        {
+          "$ref": "#/definitions/UsagePeriod"
+        }
+      ]
+    },
+    "priceUsd": {
+      "const": 20,
+      "type": "number"
+    },
+    "product": {
+      "enum": [
+        "cap-table",
+        "fund-economics"
+      ],
+      "type": "string"
+    },
+    "remaining": {
+      "minimum": 0,
+      "type": "integer"
+    }
+  },
+  "required": [
+    "product",
+    "name",
+    "priceUsd",
+    "allowance",
+    "period",
+    "remaining",
+    "active"
+  ],
+  "type": "object"
+}
    • addedInput schema / definitions / ResultResponse / properties / data / properties / result / oneOf
      Added value: +[
+  {
+    "$ref": "#/definitions/WaterfallResult"
+  },
+  {
+    "$ref": "#/definitions/FundResult"
+  }
+]
    • removedInput schema / definitions / ResultResponse / properties / data / properties / result / type
      Removed value: -"object"
    • addedInput schema / definitions / UsagePeriod
      Added value: +{
+  "properties": {
+    "allowance": {
+      "type": "integer"
+    },
+    "consumed": {
+      "type": "integer"
+    },
+    "enabled": {
+      "type": "boolean"
+    },
+    "id": {
+      "type": "string"
+    },
+    "period_end": {
+      "format": "date-time",
+      "type": "string"
+    },
+    "period_start": {
+      "format": "date-time",
+      "type": "string"
+    },
+    "reserved": {
+      "type": "integer"
+    }
+  },
+  "required": [
+    "id",
+    "period_start",
+    "period_end",
+    "allowance",
+    "consumed",
+    "reserved",
+    "enabled"
+  ],
+  "type": "object"
+}
    • addedInput schema / definitions / WaterfallComputeRequest / $schema
      Added value: +"http://json-schema.org/draft-07/schema#"
    • addedInput schema / definitions / WaterfallComputeRequest / additionalProperties
      Added value: +false
    • removedInput schema / definitions / WaterfallComputeRequest / properties / exitValuation / description
      Removed value: -"Total exit proceeds to distribute."
    • addedInput schema / definitions / WaterfallComputeRequest / properties / exitValuation / maximum
      Added value: +1000000000000000
    • addedInput schema / definitions / WaterfallComputeRequest / properties / exitValuation / minimum
      Added value: +0
    • changedInput schema / definitions / WaterfallComputeRequest / properties / model / additionalProperties
      Previous value: -trueNew value: +false
    • removedInput schema / definitions / WaterfallComputeRequest / properties / model / description
      Removed value: -"Exit-waterfall model: preferred series, common holders, options, warrants, convertibles."
    • addedInput schema / definitions / WaterfallComputeRequest / properties / model / properties
      Added value: +{
+  "common": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "id": {
+          "maxLength": 200,
+          "minLength": 1,
+          "type": "string"
+        },
+        "invested": {
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        },
+        "name": {
+          "maxLength": 200,
+          "type": "string"
+        },
+        "shares": {
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        }
+      },
+      "required": [
+        "id",
+        "name",
+        "shares"
+      ],
+      "type": "object"
+    },
+    "maxItems": 500,
+    "type": "array"
+  },
+  "convertibles": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "accruedInterest": {
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        },
+        "cap": {
+          "exclusiveMinimum": 0,
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        },
+        "cashOutAs": {
+          "enum": [
+            "debt",
+            "equity"
+          ],
+          "type": "string"
+        },
+        "cashOutSeniority": {
+          "enum": [
+            "senior",
+            "pari-passu"
+          ],
+          "type": "string"
+        },
+        "discount": {
+          "maximum": 1,
+          "minimum": 0,
+          "type": "number"
+        },
+        "id": {
+          "maxLength": 200,
+          "minLength": 1,
+          "type": "string"
+        },
+        "kind": {
+          "enum": [
+            "pre-safe",
+            "post-safe",
+            "note"
+          ],
+          "type": "string"
+        },
+        "name": {
+          "maxLength": 200,
+          "type": "string"
+        },
+        "premiumMultiple": {
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        },
+        "principal": {
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        },
+        "seniority": {
+          "type": "number"
+        }
+      },
+      "required": [
+        "id",
+        "name",
+        "kind",
+        "principal"
+      ],
+      "type": "object"
+    },
+    "maxItems": 100,
+    "type": "array"
+  },
+  "debt": {
+    "maximum": 1000000000000000,
+    "minimum": 0,
+    "type": "number"
+  },
+  "options": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "id": {
+          "maxLength": 200,
+          "minLength": 1,
+          "type": "string"
+        },
+        "name": {
+          "maxLength": 200,
+          "type": "string"
+        },
+        "shares": {
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        },
+        "strike": {
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        },
+        "vestedFraction": {
+          "maximum": 1,
+          "minimum": 0,
+          "type": "number"
+        }
+      },
+      "required": [
+        "id",
+        "name",
+        "shares",
+        "strike"
+      ],
+      "type": "object"
+    },
+    "maxItems": 500,
+    "type": "array"
+  },
+  "preferred": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "conversionRatio": {
+          "exclusiveMinimum": 0,
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        },
+        "dividendCumulative": {
+          "type": "boolean"
+        },
+        "dividendRate": {
+          "maximum": 1,
+          "minimum": 0,
+          "type": "number"
+        },
+        "dividendStart": {
+          "pattern": "^\\d{4}-\\d{2}-\\d{2}$",
+          "type": "string"
+        },
+        "holders": {
+          "items": {
+            "additionalProperties": false,
+            "properties": {
+              "id": {
+                "maxLength": 200,
+                "minLength": 1,
+                "type": "string"
+              },
+              "invested": {
+                "maximum": 1000000000000000,
+                "minimum": 0,
+                "type": "number"
+              },
+              "name": {
+                "maxLength": 200,
+                "type": "string"
+              },
+              "shares": {
+                "maximum": 1000000000000000,
+                "minimum": 0,
+                "type": "number"
+              }
+            },
+            "required": [
+              "id",
+              "name",
+              "shares",
+              "invested"
+            ],
+            "type": "object"
+          },
+          "maxItems": 500,
+          "type": "array"
+        },
+        "id": {
+          "maxLength": 200,
+          "minLength": 1,
+          "type": "string"
+        },
+        "investmentDate": {
+          "pattern": "^\\d{4}-\\d{2}-\\d{2}$",
+          "type": "string"
+        },
+        "multiple": {
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        },
+        "name": {
+          "maxLength": 200,
+          "type": "string"
+        },
+        "participation": {
+          "enum": [
+            "none",
+            "full",
+            "capped"
+          ],
+          "type": "string"
+        },
+        "participationCap": {
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        },
+        "seniority": {
+          "type": "number"
+        }
+      },
+      "required": [
+        "id",
+        "name",
+        "holders",
+        "seniority"
+      ],
+      "type": "object"
+    },
+    "maxItems": 20,
+    "type": "array"
+  },
+  "transactionExpenses": {
+    "maximum": 1000000000000000,
+    "minimum": 0,
+    "type": "number"
+  },
+  "unissuedPool": {
+    "additionalProperties": false,
+    "properties": {
+      "shares": {
+        "maximum": 1000000000000000,
+        "minimum": 0,
+        "type": "number"
+      },
+      "treatment": {
+        "const": "cancel",
+        "type": "string"
+      }
+    },
+    "required": [
+      "shares"
+    ],
+    "type": "object"
+  },
+  "warrants": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "id": {
+          "maxLength": 200,
+          "minLength": 1,
+          "type": "string"
+        },
+        "name": {
+          "maxLength": 200,
+          "type": "string"
+        },
+        "shares": {
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        },
+        "strike": {
+          "maximum": 1000000000000000,
+          "minimum": 0,
+          "type": "number"
+        }
+      },
+      "required": [
+        "id",
+        "name",
+        "shares",
+        "strike"
+      ],
+      "type": "object"
+    },
+    "maxItems": 500,
+    "type": "array"
+  }
+}
    • addedInput schema / definitions / WaterfallComputeRequest / properties / model / required
      Added value: +[
+  "common",
+  "preferred"
+]
    • changedInput schema / definitions / WaterfallComputeRequest / required
      Previous value: -[
-  "model",
-  "exitValuation"
-]New value: +[
+  "exitValuation",
+  "model"
+]
    • addedInput schema / definitions / WaterfallResult
      Added value: +{
+  "properties": {
+    "classes": {
+      "items": {
+        "type": "object"
+      },
+      "type": "array"
+    },
+    "converged": {
+      "type": "boolean"
+    },
+    "convertibles": {
+      "items": {
+        "type": "object"
+      },
+      "type": "array"
+    },
+    "distributable": {
+      "type": "number"
+    },
+    "exitValuation": {
+      "type": "number"
+    },
+    "holders": {
+      "items": {
+        "type": "object"
+      },
+      "type": "array"
+    },
+    "iterations": {
+      "type": "integer"
+    },
+    "perShare": {
+      "items": {
+        "type": "object"
+      },
+      "type": "array"
+    },
+    "series": {
+      "items": {
+        "type": "object"
+      },
+      "type": "array"
+    }
+  },
+  "required": [
+    "exitValuation",
+    "distributable",
+    "classes",
+    "series",
+    "convertibles",
+    "holders",
+    "perShare",
+    "iterations",
+    "converged"
+  ],
+  "type": "object"
+}
    • changedInput schema / properties / inputs / additionalProperties
      Previous value: -trueNew value: +false
    • removedInput schema / properties / inputs / description
      Removed value: -"Fund Economics inputs: committed capital, fees, portfolio construction, carry tiers."
    • addedInput schema / properties / inputs / properties
      Added value: +{
+  "carryPct": {
+    "maximum": 1,
+    "minimum": 0,
+    "type": "number"
+  },
+  "committedCapital": {
+    "exclusiveMinimum": 0,
+    "type": "number"
+  },
+  "fundOperationsYears": {
+    "exclusiveMinimum": 0,
+    "type": "number"
+  },
+  "gpCommitCountedTowardInvested": {
+    "type": "boolean"
+  },
+  "gpCommitPct": {
+    "maximum": 1,
+    "minimum": 0,
+    "type": "number"
+  },
+  "mgmtFeePct": {
+    "maximum": 1,
+    "minimum": 0,
+    "type": "number"
+  },
+  "mgmtFeeSchedule": {
+    "items": {
+      "maximum": 1,
+      "minimum": 0,
+      "type": "number"
+    },
+    "type": "array"
+  },
+  "mgmtFeesPeriodYears": {
+    "exclusiveMinimum": 0,
+    "type": "number"
+  },
+  "newInvestmentPeriodYears": {
+    "exclusiveMinimum": 0,
+    "type": "number"
+  },
+  "operationalExpenseLines": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "amount": {
+          "minimum": 0,
+          "type": "number"
+        },
+        "label": {
+          "type": "string"
+        }
+      },
+      "required": [
+        "label",
+        "amount"
+      ],
+      "type": "object"
+    },
+    "type": "array"
+  },
+  "operationalExpensesAnnual": {
+    "minimum": 0,
+    "type": "number"
+  },
+  "operationalExpensesBreakout": {
+    "additionalProperties": false,
+    "properties": {
+      "audit": {
+        "minimum": 0,
+        "type": "number"
+      },
+      "fundAdmin": {
+        "minimum": 0,
+        "type": "number"
+      },
+      "other": {
+        "minimum": 0,
+        "type": "number"
+      },
+      "tax": {
+        "minimum": 0,
+        "type": "number"
+      }
+    },
+    "required": [
+      "fundAdmin",
+      "tax",
+      "audit",
+      "other"
+    ],
+    "type": "object"
+  },
+  "organizationalExpenseLines": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "amount": {
+          "minimum": 0,
+          "type": "number"
+        },
+        "label": {
+          "type": "string"
+        }
+      },
+      "required": [
+        "label",
+        "amount"
+      ],
+      "type": "object"
+    },
+    "type": "array"
+  },
+  "organizationalExpenses": {
+    "minimum": 0,
+    "type": "number"
+  },
+  "partnershipExpenseLines": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "amount": {
+          "minimum": 0,
+          "type": "number"
+        },
+        "label": {
+          "type": "string"
+        }
+      },
+      "required": [
+        "label",
+        "amount"
+      ],
+      "type": "object"
+    },
+    "type": "array"
+  },
+  "partnershipExpensesAnnual": {
+    "minimum": 0,
+    "type": "number"
+  },
+  "portfolio": {
+    "additionalProperties": false,
+    "properties": {
+      "avgCheckSizeFollow": {
+        "minimum": 0,
+        "type": "number"
+      },
+      "avgCheckSizeNew": {
+        "minimum": 0,
+        "type": "number"
+      },
+      "entryStages": {
+        "items": {
+          "additionalProperties": false,
+          "properties": {
+            "avgCheckSize": {
+              "minimum": 0,
+              "type": "number"
+            },
+            "followOnChecks": {
+              "items": {
+                "additionalProperties": false,
+                "properties": {
+                  "avgCheckSize": {
+                    "minimum": 0,
+                    "type": "number"
+                  },
+                  "label": {
+                    "type": "string"
+                  },
+                  "pctOfReserve": {
+                    "maximum": 1,
+                    "minimum": 0,
+                    "type": "number"
+                  }
+                },
+                "required": [
+                  "avgCheckSize"
+                ],
+                "type": "object"
+              },
+              "type": "array"
+            },
+            "initialCheckLabel": {
+              "type": "string"
+            },
+            "name": {
+              "type": "string"
+            },
+            "numInvestments": {
+              "minimum": 0,
+              "type": "number"
+            },
+            "pctAllocation": {
+              "maximum": 1,
+              "minimum": 0,
+              "type": "number"
+            },
+            "reserveRatio": {
+              "maximum": 1,
+              "minimum": 0,
+              "type": "number"
+            }
+          },
+          "required": [
+            "name",
+            "numInvestments",
+            "avgCheckSize"
+          ],
+          "type": "object"
+        },
+        "type": "array"
+      },
+      "followPct": {
+        "maximum": 1,
+        "minimum": 0,
+        "type": "number"
+      },
+      "newPct": {
+        "maximum": 1,
+        "minimum": 0,
+        "type": "number"
+      }
+    },
+    "required": [
+      "newPct",
+      "followPct",
+      "avgCheckSizeNew",
+      "avgCheckSizeFollow"
+    ],
+    "type": "object"
+  },
+  "recycledCapitalPct": {
+    "maximum": 1,
+    "minimum": 0,
+    "type": "number"
+  },
+  "returnTiers": {
+    "items": {
+      "additionalProperties": false,
+      "properties": {
+        "holdingPeriodYears": {
+          "minimum": 0,
+          "type": "number"
+        },
+        "multiple": {
+          "minimum": 0,
+          "type": "number"
+        },
+        "name": {
+          "minLength": 1,
+          "type": "string"
+        },
+        "numCompanies": {
+          "minimum": 0,
+          "type": "number"
+        },
+        "pctOfCapital": {
+          "maximum": 1,
+          "minimum": 0,
+          "type": "number"
+        }
+      },
+      "required": [
+        "name",
+        "pctOfCapital",
+        "multiple",
+        "holdingPeriodYears"
+      ],
+      "type": "object"
+    },
+    "minItems": 1,
+    "type": "array"
+  },
+  "solveCalledFromDeployment": {
+    "type": "boolean"
+  },
+  "stageInputMode": {
+    "enum": [
+      "pct-capital",
+      "num-companies"
+    ],
+    "type": "string"
+  },
+  "targetTotalInvestments": {
+    "minimum": 0,
+    "type": "number"
+  },
+  "tierFractional": {
+    "type": "boolean"
+  },
+  "tierInputMode": {
+    "enum": [
+      "pct-capital",
+      "num-companies"
+    ],
+    "type": "string"
+  }
+}
    • addedInput schema / properties / inputs / required
      Added value: +[
+  "committedCapital",
+  "gpCommitPct",
+  "gpCommitCountedTowardInvested",
+  "organizationalExpenses",
+  "operationalExpensesAnnual",
+  "mgmtFeePct",
+  "recycledCapitalPct",
+  "carryPct",
+  "newInvestmentPeriodYears",
+  "mgmtFeesPeriodYears",
+  "portfolio",
+  "returnTiers"
+]
  3. Changed4 schema fields changed
    • addedInput schema / definitions
      Added value: +{
+  "ApiKey": {
+    "properties": {
+      "created_at": {
+        "type": "string"
+      },
+      "id": {
+        "type": "string"
+      },
+      "key_prefix": {
+        "description": "First chars of the token, for display.",
+        "type": "string"
+      },
+      "last_used_at": {
+        "type": [
+          "string",
+          "null"
+        ]
+      },
+      "name": {
+        "type": "string"
+      },
+      "revoked_at": {
+        "type": [
+          "string",
+          "null"
+        ]
+      }
+    },
+    "type": "object"
+  },
+  "CapTableEvent": {
+    "description": "One cap-table event, discriminated by `type`. Pass events in chronological order.",
+    "discriminator": {
+      "mapping": {
+        "common_issuance": "#/components/schemas/CommonIssuanceEvent",
+        "convertible_round": "#/components/schemas/ConvertibleRoundEvent",
+        "manual_issuance": "#/components/schemas/ManualIssuanceEvent",
+        "option_grant": "#/components/schemas/OptionGrantEvent",
+        "option_pool": "#/components/schemas/OptionPoolEvent",
+        "priced_round": "#/components/schemas/PricedRoundEvent",
+        "secondary_sale": "#/components/schemas/SecondarySaleEvent",
+        "warrant_round": "#/components/schemas/WarrantRoundEvent"
+      },
+      "propertyName": "type"
+    },
+    "oneOf": [
+      {
+        "$ref": "#/definitions/CommonIssuanceEvent"
+      },
+      {
+        "$ref": "#/definitions/OptionPoolEvent"
+      },
+      {
+        "$ref": "#/definitions/SecondarySaleEvent"
+      },
+      {
+        "$ref": "#/definitions/OptionGrantEvent"
+      },
+      {
+        "$ref": "#/definitions/ManualIssuanceEvent"
+      },
+      {
+        "$ref": "#/definitions/ConvertibleRoundEvent"
+      },
+      {
+        "$ref": "#/definitions/WarrantRoundEvent"
+      },
+      {
+        "$ref": "#/definitions/PricedRoundEvent"
+      }
+    ]
+  },
+  "CommonIssuanceEvent": {
+    "description": "Issue common stock (founders, employees).",
+    "properties": {
+      "grants": {
+        "items": {
+          "properties": {
+            "id": {
+              "type": "string"
+            },
+            "kind": {
+              "enum": [
+                "founder",
+                "employee"
+              ]
+            },
+            "name": {
+              "type": "string"
+            },
+            "shares": {
+              "type": "number"
+            }
+          },
+          "required": [
+            "id",
+            "name",
+            "kind",
+            "shares"
+          ],
+          "type": "object"
+        },
+        "type": "array"
+      },
+      "label": {
+        "type": "string"
+      },
+      "type": {
+        "const": "common_issuance"
+      }
+    },
+    "required": [
+      "type",
+      "label",
+      "grants"
+    ],
+    "type": "object"
+  },
+  "ComputeRequest": {
+    "properties": {
+      "events": {
+        "description": "Ordered list of cap-table events to fold.",
+        "items": {
+          "$ref": "#/definitions/CapTableEvent"
+        },
+        "type": "array"
+      }
+    },
+    "required": [
+      "events"
+    ],
+    "type": "object"
+  },
+  "ComputeResponse": {
+    "properties": {
+      "data": {
+        "properties": {
+          "final": {
+            "description": "The final cap-table state.",
+            "type": "object"
+          },
+          "snapshots": {
+            "description": "One snapshot per event, in order.",
+            "items": {
+              "type": "object"
+            },
+            "type": "array"
+          }
+        },
+        "type": "object"
+      },
+      "meta": {
+        "properties": {
+          "keyName": {
+            "type": "string"
+          }
+        },
+        "type": "object"
+      }
+    },
+    "type": "object"
+  },
+  "ConvertibleRoundEvent": {
+    "description": "Issue SAFEs or notes; they convert to preferred at the next priced round.",
+    "properties": {
+      "convertibles": {
+        "items": {
+          "properties": {
+            "accruedInterest": {
+              "type": "number"
+            },
+            "capType": {
+              "enum": [
+                "pre-money",
+                "post-money",
+                "post-money-fixed",
+                "post-money-fixed-after"
+              ]
+            },
+            "conversionDate": {
+              "description": "ISO date. Notes only.",
+              "type": "string"
+            },
+            "dilutionMode": {
+              "description": "Defaults to \"existing-only\".",
+              "enum": [
+                "existing-only",
+                "all"
+              ]
+            },
+            "discount": {
+              "description": "0..1.",
+              "type": "number"
+            },
+            "id": {
+              "type": "string"
+            },
+            "interestRate": {
+              "description": "Annual fraction (0.05 = 5%). Notes only.",
+              "type": "number"
+            },
+            "investmentDate": {
+              "description": "ISO date. Notes only.",
+              "type": "string"
+            },
+            "kind": {
+              "enum": [
+                "safe",
+                "note"
+              ]
+            },
+            "mfn": {
+              "type": "boolean"
+            },
+            "name": {
+              "type": "string"
+            },
+            "principal": {
+              "type": "number"
+            },
+            "valuationCap": {
+              "type": "number"
+            }
+          },
+          "required": [
+            "id",
+            "name",
+            "kind",
+            "principal"
+          ],
+          "type": "object"
+        },
+        "type": "array"
+      },
+      "label": {
+        "type": "string"
+      },
+      "type": {
+        "const": "convertible_round"
+      }
+    },
+    "required": [
+      "type",
+      "label",
+      "convertibles"
+    ],
+    "type": "object"
+  },
+  "CreateKeyRequest": {
+    "properties": {
+      "name": {
+        "description": "Label for the key, written into the audit trail.",
+        "type": "string"
+      }
+    },
+    "type": "object"
+  },
+  "Error": {
+    "properties": {
+      "error": {
+        "properties": {
+          "code": {
+            "enum": [
+              "unauthorized",
+              "payment_required",
+              "validation_failed",
+              "engine_error",
+              "method_not_allowed",
+              "internal_error"
+            ],
+            "type": "string"
+          },
+          "details": {},
+          "message": {
+            "type": "string"
+          },
+          "retryable": {
+            "type": "boolean"
+          }
+        },
+        "required": [
+          "code",
+          "message",
+          "retryable"
+        ],
+        "type": "object"
+      }
+    },
+    "type": "object"
+  },
+  "FundComputeRequest": {
+    "properties": {
+      "inputs": {
+        "additionalProperties": true,
+        "description": "Fund Economics inputs: committed capital, fees, portfolio construction, carry tiers.",
+        "type": "object"
+      }
+    },
+    "required": [
+      "inputs"
+    ],
+    "type": "object"
+  },
+  "ManualIssuanceEvent": {
+    "description": "Escape hatch: issue exact shares for custom arrangements.",
+    "properties": {
+      "issuances": {
+        "items": {
+          "properties": {
+            "class": {
+              "enum": [
+                "common",
+                "preferred",
+                "option-pool",
+                "warrant"
+              ]
+            },
+            "countMode": {
+              "description": "Defaults to \"shares\".",
+              "enum": [
+                "shares",
+                "percent"
+              ]
+            },
+            "id": {
+              "type": "string"
+            },
+            "issuePrice": {
+              "type": "number"
+            },
+            "kind": {
+              "enum": [
+                "founder",
+                "employee",
+                "investor",
+                "pool"
+              ]
+            },
+            "name": {
+              "type": "string"
+            },
+            "pctBasis": {
+              "description": "Defaults to \"fully-diluted\".",
+              "enum": [
+                "fully-diluted",
+                "issued"
+              ]
+            },
+            "shares": {
+              "type": "number"
+            },
+            "targetPct": {
+              "description": "0..1, used when countMode=\"percent\".",
+              "type": "number"
+            }
+          },
+          "required": [
+            "id",
+            "name",
+            "kind",
+            "class",
+            "shares"
+          ],
+          "type": "object"
+        },
+        "type": "array"
+      },
+      "label": {
+        "type": "string"
+      },
+      "type": {
+        "const": "manual_issuance"
+      }
+    },
+    "required": [
+      "type",
+      "label",
+      "issuances"
+    ],
+    "type": "object"
+  },
+  "OptionGrantEvent": {
+    "description": "Grant options to people from one pool (fully-diluted-neutral).",
+    "properties": {
+      "grants": {
+        "items": {
+          "properties": {
+            "id": {
+              "type": "string"
+            },
+            "name": {
+              "type": "string"
+            },
+            "shares": {
+              "type": "number"
+            }
+          },
+          "required": [
+            "id",
+            "name",
+            "shares"
+          ],
+          "type": "object"
+        },
+        "type": "array"
+      },
+      "label": {
+        "type": "string"
+      },
+      "poolId": {
+        "description": "Pool id to grant from; omit to draw the common pool.",
+        "type": "string"
+      },
+      "type": {
+        "const": "option_grant"
+      }
+    },
+    "required": [
+      "type",
+      "label",
+      "grants"
+    ],
+    "type": "object"
+  },
+  "OptionPoolEvent": {
+    "description": "Create or expand an option pool (shares authorized, not granted).",
+    "properties": {
+      "countMode": {
+        "description": "Defaults to \"shares\".",
+        "enum": [
+          "shares",
+          "percent"
+        ]
+      },
+      "id": {
+        "description": "Pool id, so an option_grant can name which pool it draws from.",
+        "type": "string"
+      },
+      "label": {
+        "type": "string"
+      },
+      "shares": {
+        "type": "number"
+      },
+      "strikePrice": {
+        "type": "number"
+      },
+      "targetPct": {
+        "description": "0..1 of post-event fully diluted, used when countMode=\"percent\".",
+        "type": "number"
+      },
+      "type": {
+        "const": "option_pool"
+      }
+    },
+    "required": [
+      "type",
+      "label",
+      "shares"
+    ],
+    "type": "object"
+  },
+  "PricedRoundEvent": {
+    "description": "A priced equity round: new money buys newly issued preferred.",
+    "properties": {
+      "investments": {
+        "items": {
+          "properties": {
+            "amount": {
+              "type": "number"
+            },
+            "antiDilution": {
+              "enum": [
+                "weighted-average",
+                "full-ratchet"
+              ]
+            },
+            "antiDilutionMethod": {
+              "description": "Defaults to \"conversion-ratio\".",
+              "enum": [
+                "conversion-ratio",
+                "new-shares"
+              ]
+            },
+            "id": {
+              "type": "string"
+            },
+            "name": {
+              "type": "string"
+            },
+            "proRata": {
+              "description": "If true, amount is back-solved to hold pre-round ownership; match by id.",
+              "type": "boolean"
+            }
+          },
+          "required": [
+            "id",
+            "name",
+            "amount"
+          ],
+          "type": "object"
+        },
+        "type": "array"
+      },
+      "label": {
+        "type": "string"
+      },
+      "poolMode": {
+        "description": "Legacy. Prefer pools[].",
+        "enum": [
+          "pre",
+          "post",
+          "custom"
+        ]
+      },
+      "poolPostPct": {
+        "description": "Legacy. Prefer pools[].",
+        "type": "number"
+      },
+      "pools": {
+        "description": "Option pool top-ups for the round (preferred over the legacy targetPoolPct trio).",
+        "items": {
+          "properties": {
+            "countMode": {
+              "description": "Defaults to \"percent\".",
+              "enum": [
+                "shares",
+                "percent"
+              ]
+            },
+            "label": {
+              "type": "string"
+            },
+            "mode": {
+              "description": "\"pre\" dilutes existing only; \"post\" dilutes new money too.",
+              "enum": [
+                "pre",
+                "post"
+              ]
+            },
+            "pct": {
+              "description": "0..1 of post-money fully diluted, when countMode=\"percent\".",
+              "type": "number"
+            },
+            "poolId": {
+              "description": "Set to track this pool separately (its own cap-table row).",
+              "type": "string"
+            },
+            "shares": {
+              "type": "number"
+            }
+          },
+          "required": [
+            "mode"
+          ],
+          "type": "object"
+        },
+        "type": "array"
+      },
+      "preMoneyValuation": {
+        "type": "number"
+      },
+      "targetPoolPct": {
+        "description": "Legacy. Prefer pools[].",
+        "type": "number"
+      },
+      "type": {
+        "const": "priced_round"
+      }
+    },
+    "required": [
+      "type",
+      "label",
+      "preMoneyValuation",
+      "investments"
+    ],
+    "type": "object"
+  },
+  "ResultResponse": {
+    "properties": {
+      "data": {
+        "properties": {
+          "result": {
+            "type": "object"
+          }
+        },
+        "type": "object"
+      },
+      "meta": {
+        "properties": {
+          "keyName": {
+            "type": "string"
+          }
+        },
+        "type": "object"
+      }
+    },
+    "type": "object"
+  },
+  "SecondarySaleEvent": {
+    "description": "Transfer existing shares from one holder to another.",
+    "properties": {
+      "class": {
+        "description": "Defaults to \"common\".",
+        "enum": [
+          "common",
+          "preferred",
+          "option-pool",
+          "warrant"
+        ]
+      },
+      "fromId": {
+        "type": "string"
+      },
+      "label": {
+        "type": "string"
+      },
+      "round": {
+        "description": "Which series the shares come from (e.g. \"Series A\").",
+        "type": "string"
+      },
+      "shares": {
+        "type": "number"
+      },
+      "toId": {
+        "type": "string"
+      },
+      "toName": {
+        "type": "string"
+      },
+      "type": {
+        "const": "secondary_sale"
+      }
+    },
+    "required": [
+      "type",
+      "label",
+      "fromId",
+      "toId",
+      "toName",
+      "shares"
+    ],
+    "type": "object"
+  },
+  "WarrantRoundEvent": {
+    "description": "Issue warrants (right to buy shares at a set price); counts toward fully diluted now.",
+    "properties": {
+      "label": {
+        "type": "string"
+      },
+      "type": {
+        "const": "warrant_round"
+      },
+      "warrants": {
+        "items": {
+          "properties": {
+            "countMode": {
+              "enum": [
+                "shares",
+                "value"
+              ]
+            },
+            "id": {
+              "type": "string"
+            },
+            "name": {
+              "type": "string"
+            },
+            "parValue": {
+              "type": "number"
+            },
+            "priceDiscount": {
+              "description": "0..1 discount on the source round price.",
+              "type": "number"
+            },
+            "priceFromRound": {
+              "description": "Source round label to price off, when variable.",
+              "type": "string"
+            },
+            "purchaseClass": {
+              "enum": [
+                "common",
+                "preferred"
+              ]
+            },
+            "purchasePrice": {
+              "type": "number"
+            },
+            "purchaseRound": {
+              "description": "For a preferred warrant, the series it targets.",
+              "type": "string"
+            },
+            "shares": {
+              "description": "When countMode=\"shares\".",
+              "type": "number"
+            },
+            "totalValue": {
+              "description": "When countMode=\"value\": shares = totalValue / purchasePrice.",
+              "type": "number"
+            }
+          },
+          "required": [
+            "id",
+            "name",
+            "purchaseClass",
+            "countMode"
+          ],
+          "type": "object"
+        },
+        "type": "array"
+      }
+    },
+    "required": [
+      "type",
+      "label",
+      "warrants"
+    ],
+    "type": "object"
+  },
+  "WaterfallComputeRequest": {
+    "properties": {
+      "exitValuation": {
+        "description": "Total exit proceeds to distribute.",
+        "type": "number"
+      },
+      "model": {
+        "additionalProperties": true,
+        "description": "Exit-waterfall model: preferred series, common holders, options, warrants, convertibles.",
+        "type": "object"
+      }
+    },
+    "required": [
+      "model",
+      "exitValuation"
+    ],
+    "type": "object"
+  }
+}
    • addedInput schema / properties / idempotency_key
      Added value: +{
+  "description": "Optional retry key; reuse only with identical input.",
+  "type": "string"
+}
    • addedInput schema / properties / inputs / additionalProperties
      Added value: +true
    • changedInput schema / properties / inputs / description
      Previous value: -"Fund inputs: committed capital, fees, portfolio construction, carry tiers. See list_concepts and the Fund Economics template for fields."New value: +"Fund Economics inputs: committed capital, fees, portfolio construction, carry tiers."
  4. Added

TDQS

A4.3/5.0
Behavior5/5

Does the description disclose side effects, auth requirements, rate limits, or destructive behavior?

Annotations already declare readOnlyHint=true, but the description adds substantial non-obvious behavior: account/entitlement requirements, the action_required contract (not signed in, no purchase, allowance used) with an instruction to relay links and offer retry, and the IRR semantics caveat (geometric annualization over weighted holding periods, NOT dated cash-flow IRR). This is exactly the kind of context annotations cannot carry.

Agents need to know what a tool does to the world before calling it. Descriptions should go beyond structured annotations to explain consequences.

Conciseness4/5

Is the description appropriately sized, front-loaded, and free of redundancy?

Front-loaded with the compute scope, then outputs, then the IRR caveat, then auth/error handling. Every sentence carries information, though the auth/purchase paragraph is dense and slightly long relative to the core purpose.

Shorter descriptions cost fewer tokens and are easier for agents to parse. Every sentence should earn its place.

Completeness4/5

Given the tool's complexity, does the description cover enough for an agent to succeed on first attempt?

For a complex nested-input tool with no output schema, the description covers the key return values (aggregate capital, fees, investable capital, gross/net multiples) and the auth/error paths. It stops short of explaining the full FundResult surface (dpi/tvpi/rvpi, per-tier breakouts), but it is adequate to invoke the tool correctly.

Complex tools with many parameters or behaviors need more documentation. Simple tools need less. This dimension scales expectations accordingly.

Parameters3/5

Does the description clarify parameter syntax, constraints, interactions, or defaults beyond what the schema provides?

Top-level schema coverage is 50% and the deeply nested inputs object (portfolio, returnTiers, expense lines, mode toggles) is undocumented in both schema and description. The description does add one useful rule for the inputs parameter ('start from the defaults and change only what the user specifies') and lists the outputs computed, but it does not map guidance to specific fields, so it only partially compensates.

Input schemas describe structure but not intent. Descriptions should explain non-obvious parameter relationships and valid value ranges.

Purpose5/5

Does the description clearly state what the tool does and how it differs from similar tools?

States a specific verb and resource ('compute fund economics') and enumerates the exact levers handled: fund size, management fees and step-downs, carry, investment period, recycling, reserves, deployment pace, net returns to LPs. This clearly distinguishes it from the sibling compute tools (cap_table_compute, exit_waterfall_compute).

Agents choose between tools based on descriptions. A clear purpose with a specific verb and resource helps agents select the right tool.

Usage Guidelines4/5

Does the description explain when to use this tool, when not to, or what alternatives exist?

Opens with an explicit trigger condition ('Use whenever the user asks how a venture fund's terms play out') and gives the input convention 'start from the defaults and change only what the user specifies.' It does not explicitly name or exclude the sibling compute tools, so the routing is implied rather than spelled out.

Agents often have multiple tools that could apply. Explicit usage guidance like "use X instead of Y when Z" prevents misuse.

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